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Year Nominal GDP GDP deflator 2008 S20 billion 1-67 2009 2010 2011 S21.pdf

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Year Nominal GDP GDP deflator 2008 S20 billion 1.67 2009 2010 2011 S21 billion $22.2 billion $23 billion 1.69 1.72 1.8 2012 $23.7 billion 1.82 Calculate the real GDP for the year 2009 and 2010 Is there any economic growth in 2011? Explain the difference between the nominal GDP and the real GDP. Which measurement is better in describing economic growth and how/why? .

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Year Nominal GDP GDP deflator 2008 S20 billion 1.67 2009 2010 2011 S21 billion $22.2 billion $23 billion 1.69 1.72 1.8 2012 $23.7 billion 1.82 Calculate the real GDP for the year 2009 and 2010 Is there any economic growth in 2011? Explain the difference between the nominal GDP and the real GDP. Which measurement is better in describing economic growth and how/why?
Year Nominal GDP GDP deflator 2008 S20 billion 1-67 2009 2010 2011 S21.pdf

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Year Nominal GDP GDP deflator 2008 S20 billion 1-67 2009 2010 2011 S21.pdf

  • 1. Year Nominal GDP GDP deflator 2008 S20 billion 1.67 2009 2010 2011 S21 billion $22.2 billion $23 billion 1.69 1.72 1.8 2012 $23.7 billion 1.82 Calculate the real GDP for the year 2009 and 2010 Is there any economic growth in 2011? Explain the difference between the nominal GDP and the real GDP. Which measurement is better in describing economic growth and how/why?